This invention generally relates to a system for and method of managing purchases, and more particularly, to a system and method to predict or forecast needs to purchase or rent assets to track and limit movement of the at least one asset.
Larger industrial, healthcare or commercial facilities can be spread out over a large campus and include multiple floors each having multiple rooms. Each of the facilities can employ various assets used in manufacturing or providing services. For example, a healthcare facility or hospital employs numerous assets that can be spread out over a large campus and/or moved from room to room. Examples of assets include intravenous pumps, wheel chairs, digital thermometers, local patient monitors, etc. A similar scenario can be said for an industrial facility that includes various portable pumps, hoists, winches, etc.
Facilities typically acquire or purchase assets on a purely speculative basis. There is a need for a system to improve efficiency in the purchase of assets on a per department basis that does not rely on mere speculation. There is also a need for a system that includes architecture to manage assets from a prediction of need phase to a retirement or disposal phase of the asset.